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REGISTERED NUMBER: 09644379 (England and Wales)
















Financial Statements

for the Year Ended 30 June 2023

for

Angus Kyloe Partners Limited

Angus Kyloe Partners Limited (Registered number: 09644379)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Company Information 1

Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Angus Kyloe Partners Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Ms S S Pennie
R G Pennie
L Mattorano
W Razzaq
Ms L A Whitaker





REGISTERED OFFICE: 701 Stonehouse Park
Sperry Way
Stonehouse
Gloucestershire
GL10 3UT





REGISTERED NUMBER: 09644379 (England and Wales)





ACCOUNTANTS: GCSD Accountants Limited
701 Stonehouse Park
Sperry Way
Stonehouse
Gloucestershire
GL10 3UT

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Angus Kyloe Partners Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements and state those matters that we have agreed to state to the Board of Directors, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that the Company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit. You consider that the Company is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of the Company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






GCSD Accountants Limited


18 March 2024

Angus Kyloe Partners Limited (Registered number: 09644379)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 101,452 139,428
Investments 5 1,489 1,489
102,941 140,917

CURRENT ASSETS
Stocks 57,283 91,017
Debtors 6 507,950 440,623
Cash at bank 1,092,171 885,272
1,657,404 1,416,912
CREDITORS
Amounts falling due within one year 7 1,142,752 821,621
NET CURRENT ASSETS 514,652 595,291
TOTAL ASSETS LESS CURRENT
LIABILITIES

617,593

736,208

CREDITORS
Amounts falling due after more than
one year

8

(11,775

)

(25,264

)

PROVISIONS FOR LIABILITIES (3,384 ) (7,389 )
NET ASSETS 602,434 703,555

CAPITAL AND RESERVES
Called up share capital 10,100 20,100
Capital redemption reserve 10,000 -
Retained earnings 582,334 683,455
602,434 703,555

Angus Kyloe Partners Limited (Registered number: 09644379)

Balance Sheet - continued
30 June 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2024 and were signed on its behalf by:





Ms S S Pennie - Director


Angus Kyloe Partners Limited (Registered number: 09644379)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. STATUTORY INFORMATION

Angus Kyloe Partners Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Group accounts not prepared
The financial statements contain information about Angus Kyloe Partners Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Revenue recognition
Turnover comprises the fair value of consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when the amount of revenue can be reliably measured, it is probably that the future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 10% on cost, Straight line over 5 years and Straight line over 3 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Angus Kyloe Partners Limited (Registered number: 09644379)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those whose financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Angus Kyloe Partners Limited (Registered number: 09644379)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable or similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 62 (2022 - 59 ) .

Angus Kyloe Partners Limited (Registered number: 09644379)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 417,779
Additions 16,286
Disposals (10,298 )
At 30 June 2023 423,767
DEPRECIATION
At 1 July 2022 278,351
Charge for year 53,316
Eliminated on disposal (9,352 )
At 30 June 2023 322,315
NET BOOK VALUE
At 30 June 2023 101,452
At 30 June 2022 139,428

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakin
£   
COST
At 1 July 2022
and 30 June 2023 1,489
NET BOOK VALUE
At 30 June 2023 1,489
At 30 June 2022 1,489

Angus Kyloe Partners Limited (Registered number: 09644379)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 324,777 270,531
Amounts owed by group undertakings 101,714 111,605
Other debtors 1,080 1,060
Prepayments 80,379 57,427
507,950 440,623

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,417 125,000
Trade creditors 68,135 43,749
Tax 92,314 10,222
Social security and other taxes 72,271 70,803
Outstanding defined
contribution pension costs 18,706 19,252
VAT 142,066 94,573
Other creditors 3,889 -
Deferred income 497,922 285,657
Accrued expenses 233,960 167,231
Deferred grants 3,072 5,134
1,142,752 821,621

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years - 10,417
Deferred grants 11,775 14,847
11,775 25,264

9. LEASING AGREEMENTS

There are financial commitments not included in the balance sheet in respect of a long term rent commitment for the office premises of £435,000 (2022 - £515,000), which is leased from a related party, Custom House (Property) Limited.

There are also financial commitments not included in the balance sheet in respect of vehicle leases of £62,909 (2022 - £18,904).

Angus Kyloe Partners Limited (Registered number: 09644379)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


10. COMPANY REPURCHASE OF OWN SHARES

On 30 September 2022, the company entered into an agreement to repurchase 10,000 of its own shares. These were acquired out of accumulated profit and loss reserves at a value of £424,556 and the shares were subsequently cancelled by the company upon them being repurchased.

11. POST BALANCE SHEET EVENTS

On 13 July 2023, all shareholders entered into an agreement to exchange their shares in Angus Kyloe Partners Limited for shares in Kyloe (Holdings) Ltd. Therefore, Angus Kyloe Partners Limited became a wholly owned subsidiary of Kyloe (Holdings) Ltd on that date.